Friday 4 January 2019

Auto & Environment: EV Numbers and Growth In Hong Kong As Of Oct 2018

New Tesla EV price after reduction
Image from Tesla HK

I haven't published any EV numbers and growth in Hong Kong since the figures of Aug 2016 was released. The fact is, there is nothing to report, and we all know the situation of EV is bleak. Ever since Financial Secretary Paul Chan mo-po's removal of EV FRT waiver, EV sales in Hong Kong have not recovered to the slightest. Even after the “One-for-One Replacement” Scheme was launched on 28 February 2018, buyers' confidence remains low. How low?
Data from Transport Department Hong Kong
Image from Locky's English Playground
Ever since that final wave of EV sales back in March 2017, over a period of 19 months till October 2018, only a total of 351 private EVs have been registered, compared to 35,483 ICEVs added in the same period, which is approximately 1 EV in every 101 ICEVs sold. (In another comparison, 351 private EVs is about two times of units sold in Tesla HK's worst months.)
Data from Transport Department Hong Kong
Image from Locky's English Playground
Still, there is no way that the Hong Kong government will admit their fault for driving EV growth to an early grave. They didn't admit when EV taxis didn't work, not even till the last one ended up on scrap heap. In a city that considers electric scooters as 'a car' but has no driving licence to apply for, there is little reason for the EV-hopeful to remain...well... hopeful. They know the government officials' rhetoric too well, and no longer want to argue with the wall of deaf ears.

Maybe this is why Tesla decided to take matters into their own hands and reduce the price of Model S and X by 8-20% starting from today Will this help? I do hope so, but 8-20% reduction (tax reduction included) is still far from the cost saving compared to the good old days when EV FRT waiver was still waving and smiling. Tesla Model S and X 75D is still over a million Hong Kong dollars with tax. This means the used inventory is still the most attractive and will remain so until the US$35,000 Tesla Model 3 arrives.

As for our EV enthusiast friends of Singapore, you are not alone.

Image from Tesla HK

Promotion of Electric Vehicles in Hong Kong | Environmental Protection Department

Last HK e-taxi ends up on scrap heap

Police arrested a man on electric scooter for five traffic offences in Tin Shui Wai - Dimsum Daily

Tesla香港調整價格及推出全新配置 - 香港經濟日報 - 理財 - 商業 - D190103

Model 3 Will Boost Tesla Cars Go Mainstream In 'Beacon City For Electric Vehicles'

Elon Musk's official Twitter